Internet Banking Terms and Conditions
Following are the Terms and Conditions of our Internet Banking service.
Please read these Terms and Conditions of Use. They apply to all transactions initiated by you through Internet Banking through the combination of an identifier (Login name) and a password;If you fail to properly safeguard your Cairns Penny Savings & Loans password for Internet Banking you may increase your liability for unauthorised use.
Your first use of Internet Banking will automatically constitute your understanding and acceptance of these Terms and Conditions of Use.
If these Conditions of Use are not clear to you, contact Cairns Penny Savings & Loans BEFORE using Internet Banking.
Important Points to Remember to Safeguard Your Account
• Memorise your password(s) and never store it(them) with or near your identifier
• Never tell anyone your password
• Don’t choose a password that is easily identified with you e.g. your birth date, an alphabetical code which is a recognisable part of your name, or your car registration
• Don’t choose a password that is merely a group of repeated numbers or letters
• Try to prevent anyone else seeing you enter your password when using Internet Banking
• Don’t record your password anywhere near the equipment used to access Internet Banking
• Change your password at frequent intervals
• Always ensure that you have logged-off your internet banking session and closed the internet browser when you have finished or leave the computer.
• Immediately report the loss, theft or unauthorised use of your identifier and password(s) to Cairns Penny Savings & Loans.
• Examine your account statement as soon as you receive it to identify and report, as soon as possible, any instances of unauthorised use
1. Introduction
Generally speaking, these Terms and Conditions apply to Internet Banking identifiers used in conjunction with a password to perform electronic transactions.
In accepting your password from Cairns Penny Savings & Loans you acknowledge that you have read, and understand these Terms and Conditions of Use and are obliged to comply with them.
2. Application Of Codes
Cairns Penny Savings & Loans warrants that it will comply with the requirements of the Electronic Funds Transfer Code of Conduct as established by the Australian Securities and Investments Commission (EFT Code).
The EFT Code does not apply to accounts used primarily by a business for business purposes.
If you would like a copy of the Code you should contact Cairns Penny Savings & Loans.
3. Password Secrecy
You agree that:
• You will not record your password on anything with or near your identifier
• You will not record your password anywhere near the equipment used to access Internet Banking
• You will not tell anyone your password or let anyone see it
• You will try to prevent anyone else seeing you enter your password when using Internet Banking
• You will change your password at frequent intervals
• If you think that your password has become known to someone else, you will notify Cairns Penny Savings & Loans immediately
In certain circumstances you may be liable for transactions that occur on your account if you have disclosed your password to someone else (refer clause 11).
4. Reporting The Loss Or Theft Of Your Identifier and Password
If you believe your identifier and/or password have been lost, stolen or have become known to someone else, you should IMMEDIATELY report this to Cairns Penny Savings & Loans and change your password through Internet Banking. During business hours contact Cairns Penny Savings & Loans immediately, if outside business hours you must notify Cairns Penny Savings & Loans by 9 am the next working day by either visiting our offices or phoning Cairns Penny Savings & Loans on (07) 4031 4460.
5. Using Your Identifier And Password
When you apply for access to Internet Banking you are given an initial password which you must enter to access Internet Banking within 24 hours. The first time you access Internet Banking you will be asked to select a new password before using any functions. If you forget your password for Internet Banking you will need to make a new application as Cairns Penny Savings & Loans does not have access to passwords once changed by Members.
Cairns Penny Savings & Loans will advise you:
• What transactions your identifier and password will enable you to perform in Internet Banking;
• The accounts that may be accessed using your identifier and password including any credit facility which may be accessed.
Cairns Penny Savings & Loans will debit and credit your linked accounts with the value of all transactions carried out using your identifier and password to use Internet Banking.
If any of your linked accounts is in the name of more than one person, then the liability of those persons under these Terms and Conditions of Use is joint and several for transactions carried out on those accounts.
Transactions will not necessarily be processed to your account on the same day they occur.
You will continue to be liable to Cairns Penny Savings & Loans for the value of any debit transaction occurring after you have closed your accounts or after you have resigned your Membership with Cairns Penny Savings & Loans.
6. Transaction Limits
You agree that you will NOT use your access method in Internet Banking to:
• Overdraw the balance in any of your linked accounts; or
• Exceed the unused portion of your credit limit under any pre-arranged credit facility.
Cairns Penny Savings & Loans:
• May set limits on the minimum and maximum transaction amounts, on a daily or cumulative basis;
• Will advise you of the daily transaction limits at the time you apply for your access method.
7. Authorisations
You:
• Acknowledge that Cairns Penny Savings & Loans has the right to refuse authorisation for you to effect any transaction for any reason; and
• Agree that Cairns Penny Savings & Loans will not be liable to you or anyone else for any loss or damage that you or anyone else suffer as a result of Cairns Penny’s refusal to authorise any transaction.
8. Periodical Payments
Regular future payments (periodical payments) will only be processed if sufficient clear funds exist in the account at the time of processing. We do not have to advise you if a periodical payment is not made. When we make a periodical payment we are not acting as your agent or the agent of the payee. If a periodical payment is dishonoured for three payments, the authority may be automatically cancelled by Cairns Penny. We also refer you to our brochure Standard Non-Cash Payment Products.
9. Cancellation Of Access
Cairns Penny Savings & Loans may demand that you cease using your access method at anytime:
• for security reasons; or
• if you breach these Terms and Conditions of Use or the terms and conditions of the accounts linked to Internet Banking.
You may cancel your access to Internet Banking at any time by giving Cairns Penny Savings & Loans written notice.
10. Conditions After Cancellation Or Expiry Of Access
Cancellation of access may not take place immediately, particularly when our systems are not available. You remain liable for any transaction you perform using your identifier and password after notice of cancellation.
11. Your Liability In Case Your Access Method Is Lost Or Stolen In The Case Of Unauthorised Use
1. You are not liable for any unauthorised use of your access method in Internet Banking ;
(a) In relation to a transaction processed by Internet Banking before you have actually received your password;
(b) after you have reported the password lost or stolen under paragraph 4; and
(c) if you did not contribute to any unauthorised use of your access method.
2. For the purpose of paragraph 11(1) (c) you will be taken to have contributed to any loss caused by unauthorised use of your access method if:
(a) in relation to transactions carried out using your identifier and password through Internet Banking, you:
| (i) voluntarily disclose your password to anyone, including a family Member or friend; | ||
| (ii) voluntarily allow someone else to observe you entering your identifier and password when using Internet Banking ; | ||
| (iii) write or indicate your password on an article containing the identifier; | ||
| (iv) write or indicate your password (without making any reasonable attempts to disguise the password) on any article carried with your identifier; | ||
| (v) allow anyone else to use your identifier and password; | ||
| (vi) unreasonably delay notification of: | ||
| A. your identifier or password record being lost or stolen; or | ||
| B. unauthorised use of your access method; or | ||
| C. the fact that someone else knows your password. | ||
3. If you are taken to have contributed to the unauthorised use of your access method under paragraph 11(2), your liability will be the lesser of:
(a) the actual loss when less than your account balance (including the unused portion of your credit limit under any pre-arranged credit facility);
(b) your account balance (including the unused portion of your credit under any pre-arranged credit facility); or
(c) an amount calculated by adding the actual losses incurred for each day, up to the current daily transaction limit, on which unauthorised use occurred before you reported the loss, theft or unauthorised use of your access method, up to and including the day you make your report.
4. In determining liability under paragraph 11(3):
(a) where your access method has been lost or stolen, the number of days will be calculated by reference to the day when you should reasonably have become aware that it was lost or stolen; and
(b) the current daily withdrawal limit is the limit applicable at the time of the transaction as set by Cairns Penny Savings & Loans for your access to Internet Banking.
5. Where it is unclear whether or not you have contributed to any loss caused by unauthorised use of your access method, your liability will be the lesser of:
(a) $150;
(b) your account balance (including the unused portion of your credit limit under any pre-arranged credit facility); or
(c) the actual loss at the time Cairns Penny is notified of the loss or theft of your access method.
6. In determining your liability under paragraph 11(5):
(a) Cairns Penny will consider all reasonable evidence including all reasonable explanations for an unauthorised use having occurred; and
(b) the fact that an account is accessed with the correct password, while significant, is not of itself conclusive evidence that you have contributed to the loss.
7. Your liability for such losses occurring as a result of unauthorised access will be determined under the EFT Code. The guidelines set out at the beginning of these conditions of use to safeguard your account, are guidelines only.
12. Resolving Errors on Account Statements
If you believe a transaction is wrong or unauthorised or your account statement contains any instances of unauthorised use or errors, you must immediately notify Cairns Penny Savings & Loans. As soon as you can, you must also provide Cairns Penny Savings & Loans with the following:
• your name, address and Member number;
• details of the transaction or the error you consider is wrong or unauthorised;
• a copy of the account statement in which the unauthorised transaction or error first appeared;
• the dollar amount and an explanation as to why you believe it is an unauthorised transaction or an error.
If Cairns Penny Savings & Loans is unable to settle your complaint immediately to your satisfaction, it will advise you in writing of the procedure for further investigation and resolution and may request further relevant details from you.
Within 21 days of receiving these further relevant details from you, Cairns Penny Savings & Loans will:
• advise you in writing of the results of its investigations; or
• advise you in writing that it requires further time (not exceeding a further 24 days) to complete its investigation.
Where an investigation continues beyond 45 days, Cairns Penny Savings & Loans will provide you with the reason for the delay, monthly updates on the progress of the investigation and a date when a decision can be reasonably expected, except in cases where Cairns Penny Savings & Loans is waiting for a response from you and you have been advised that Cairns Penny Savings & Loans requires such a response.
If Cairns Penny Savings & Loans finds that an error was made, it will make the appropriate adjustments to your account including interest and charges (if any) and will advise you in writing of the amount of the adjustment.
If:
1. Cairns Penny Savings & Loans is a party to an Industry Dispute Resolution Scheme; and
2. That scheme provides a matter can be heard under the scheme if Cairns Penny Savings & Loans does not give a final decision on the matter within a specified time;Cairns Penny Savings & Loans will advise you in writing about the option of taking the matter to the Scheme within 5 business days after the specified time period expires.
When Cairns Penny Savings & Loans advises you of the outcome of its investigations, it will:
• Give you reasons for its decisions by reference to these Conditions of Use and the EFT Code of Conduct;
• advise you of any adjustments it has made to your account; and
• advise you in writing of other avenues of dispute resolution (including Consumer Affairs Agencies and Small Claims Courts) if you are not satisfied with Cairns Penny Savings & Loans institution’s decision, including the right to request that the decision be reviewed by Cairns Penny’s senior management.
If Cairns Penny Savings & Loans decides that you are liable for all or any part of a loss arising out of unauthorised use of your access method, it will:
• give you access to copies of any documents or other evidence it relied upon; and
• advise you whether or not there was any system malfunction at the time of the transaction.
If Cairns Penny Savings & Loans fails to carry out these procedures or causes unreasonable delay,Cairns Penny Savings & Loans will be liable for the amount of the disputed transaction where its failure or delay has prejudiced the outcome of the investigation.
13. Malfunction
Cairns Penny Savings & Loans may in certain circumstances be liable to customers for loss suffered by the customer which is caused by the failure of Cairns Penny Savings & Loans system or equipment to complete a transaction accepted by that system or equipment in accordance with your instructions.
Where you are aware, or should have been aware, that Cairns Penny Savings & Loans’s system or equipment was malfunctioning or unavailable, Cairns Penny Savings & Loans’s liability is limited to the correction of any errors and the refund of charges and / or fees imposed on you as a result.
Cairns Penny Savings & Loans is not liable to you where Cairns Penny Savings & Loans’s system or equipment had not accepted the transaction.
14. Statements and Receipts
For transactions processed through Internet Banking you will have the opportunity to print a transaction record slip for each financial transaction carried out. You should obtain, check and retain all transaction record slips available to you for checking against your account statements.
Cairns Penny Savings & Loans will send you an account statement every 3 months. You may request more frequent account statements.
For accounts that have a pre-arranged credit facility attached, Cairns Penny Savings & Loans will send you an account statement monthly or as otherwise required by any applicable legislation, the EFT Code or the CU Code.
You may request a copy of your account statement at any time (fees will apply).
15. Fees And Charges
Cairns Penny Savings & Loans reserves the right to charge a fee for any transactions processed through Internet Banking or for issuing passwords or replacement passwords and Cairns Penny Savings & Loans is irrevocably authorised to debit your linked account with those fees.
You will be advised by Cairns Penny Savings & Loans of any applicable fees and charges at the time you apply for your password.
16. Government Fees And Charges
Cairns Penny Savings & Loans reserves the right to pass on to you any fees, charges, duties and taxes that are imposed on the use of Internet Banking by government or by any regulatory authority. Cairns Penny Savings & Loans is also irrevocably authorised to debit your linked accounts with those fees, charges, duties and taxes.
17. Changes To Condition Of Use
Cairns Penny Savings & Loans reserves the right to change these Terms and Conditions of Use and to vary the fees and charges that apply to Internet Banking.
Cairns Penny Savings & Loans will notify you in writing at least 30 days before the effective date of a change if it will:
• Impose or increase charges for transactions processed through Internet Banking or for issuing passwords or replacement passwords;
• Increase your liability for unauthorised use; or
• Adjust daily transaction limits.
Cairns Penny Savings & Loans may notify you of other changes either through:
• Notices on, or sent with account statements;
• Notices on Internet Banking, or in our office; or
• Press advertisements;
and, in the last two cases, Cairns Penny Savings & Loans will give you written advice of the changes at the time of your next account statement after the change.
Written notice will not be given of a variation that is required by an immediate need for Cairns Penny Savings & Loans to restore or maintain the security of its systems or your linked accounts.
You will be taken to have received a written notice from Cairns Penny Savings & Loans under this clause in the due course of post if it is mailed to the last address for you known to Cairns Penny Savings & Loans. If a written notice is delivered to you personally the date of delivery is the date you receive the notice.
If you retain and use your access method after notification of any authorised changes your use of your access method shall be subject to those changes.
18. Exclusion Of Cairns Penny Savings & Loans’s Liability
Cairns Penny Savings & Loans bears no liability for any refusal of a merchant or agent to accept your transaction through Internet Banking.
Cairns Penny Savings & Loans does not give any warranty for any goods or services obtained from a merchant or agent through the use of Internet Banking. You acknowledge and accept that all complaints about these goods and services must be addressed to the supplier or merchant for those goods and services.
Cairns Penny Savings & Loans is not liable for the restrictions or limits that a third party may impose in relation to any transfers.
19. Other General Conditions
These Terms and Conditions of Use govern your Internet Banking access to your linked accounts at Cairns Penny Savings & Loans Savings & Loans. Each transaction on a linked account is also governed by the terms and condition to which that account is subject. If there is any inconsistency between these Terms and Conditions of Use and the terms applicable to any of your accounts these Terms and Conditions of Use prevail except to the extent that they are contrary to any applicable legislation, or the EFT Code.
You agree that you will promptly notify Cairns Penny Savings & Loans of any change of address for the mailing of any notifications which Cairns Penny Savings & Loans is required to send to you.
Cairns Penny Savings & Loans may post all statements and notices to you at your registered address as provided for in Cairns Penny Savings & Loans’s Constitution.
If your Internet Banking password is issued on a joint account each party to that account is jointly and severally liable for all transaction through Internet Banking.
20. Privacy And Personal Information
Cairns Penny Savings & Loans complies with the National Privacy Principles as set out in the Privacy Act 1988. You can access personal information Cairns Penny Savings & Loans holds about you and advise if any information held is inaccurate, incomplete or out of date.
To access personal information held about you or to request a copy of Cairns Penny Savings & Loans’s Privacy Policy write to: The General Manager Cairns Penny Savings & Loans Savings & Loans PO Box 5272 Cairns QLD 4870
A copy of our Privacy policy can also be located on our website within our Member Services Guide.
21. Definitions
• ACCESS METHOD: The use of both the Identifier and Password together.
• Cairns Penny Savings & Loans: Cairns Penny Savings & Loans Savings and Loans Limited.
• IDENTIFIER: The code known to the user, which the user is not required to keep secret, used to access Internet Banking. (The identifier will generally be the Membership Number)
• INTERNET BANKING: Cairns Penny Savings & Loans Savings & Loans' internet banking facility.
• LINKED ACCOUNT: An account you have with Cairns Penny Savings & Loans to which you may obtain access by use of Internet Banking.
• PASSWORD: The secret code known to the user to access Internet Banking.
• UNAUTHORISED USE: Use that is not authorised by you. Transactions carried out by you or by another person with your knowledge and / or consent are not unauthorised use.
22. Interpretation
For the purpose of these Terms and Conditions of Use, ‘day’ means a 24 hour period commencing at midnight Eastern Standard Time or Eastern Summer Time, as the case may be, in Sydney.
A reference to:
• One gender includes the other gender; and
• The singular includes the plural and the plural includes the singular.
A reference to any legislation or to any provision of any legislation includes any modification or re-enactment of it, any legislative provision substituted for it and all regulations and statutory instruments issued under it.
23. Governing Law
These Terms and Conditions and the transactions referred to herein shall be governed by and construed in accordance with the laws of the State of Queensland, Australia, and each party submits to the respective jurisdictions (including, where applicable, the non-exclusive jurisdictions) of the courts or tribunals of the State of Queensland, Australia. Any proceedings in respect of any cause of action arising under these Terms and Conditions shall be instituted, heard and determined in a court of competent jurisdiction in the State of Queensland, Australia.
